Ann: Updated Scoping Study Results Lake Maitland Uranium Project, page-79

Just getting back to management, the demerger and these performance rights.

Would I be correct in assuming that the performance hurdles would be greatly reduced depending on the in specie distribution?

So at the moment the market is putting zero value on the gold, nickel and non critical uranium exploration tenements like Theseus. At $40m it’s only valueing Wiluna.

However assuming say a 70/30 or 60/40 in specie distribution these performance rights could be reduced by some 40%, including listed and unlisted option strike prices?

Never been involved in a demerger however this is how I read it.

in which case a demerger is totally in RHs interests